1.25 CPD hours

  • On Demand Event
    Complete online in your own time (Self-paced)
    • $180.00 excl. GST

Description

Overlooking the tax implications when settling a dispute or insurance claim can leave a party “out of pocket”.

This webinar considers the GST and income tax implications of out of court settlements and insurance claims, including:

  • whether the settlement proceeds are subject to GST and/or income tax; 
  • timing, apportionment and deductibility issues; and 
  • structuring settlements to minimise adverse tax implications. 

Case studies will be used to illustrate these tax issues.

LEARNING OUTCOMES

You will:

  • Understand the key principles to determine whether (and to what extent) out of court settlements and insurance claims are subject to income tax;
  • Know when out of court settlements will have GST implications, along with the special rules that apply to insurance payments;
  • Understand when GST and income tax needs to be accounted for, and whether related expenses are deductible;
  • Learn how to structure settlements to minimise adverse tax implications.

SUITED TO

Accountants, lawyers and others who advise clients on disputes, claims and insurance matters.

ORIGINAL BROADCAST DATE

2 November 2017

PRESENTER

Stephen Tomlinson, Partner, Tomlinson Law